**Making a budget** for anything helps us a lot to manage money. Especially for students, while studying in colleges or universities, itâ€™s an important task to make a budget for each semester. Because most of the students had to pass a struggling time for money, especially while studying abroad. Making a budget in excel is a quite good choice because Excel has a lot of features that help to manage and understand budgets. I hope this article will be a proper guide to** make a college budget in Excel.**

**Download Practice Workbook**

You can download the free Excel workbook from here to practice or use it for making your college budget.

**Considerable Sections to Make a College Budget in Excel**

To make a college budget, weâ€™ll explain it in the below 4 sections.

**Calculate Monthly Income**

First, weâ€™ll calculate the monthly income of a student to make a college budget.

- For that, I made a dataset where I will place the income sectors and amounts. And applied some formats to look it better.

- Here, I placed the amount of every sector and then used
**the SUM function**in**C8**to find the total income.

- Later, I used conditional formatting to represent the range of each income amount visually. It will help us to understand the amount range visually at a glance.

- Hereâ€™s the final outlook of the monthly income. If you have more income sectors then add them.

**Read more: How to Do Budgeting and Forecasting in Excel (2 Suitable Ways)**

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**How to Make a Family Budget in Excel (2 Effective Ways)****How to Make a Wedding Budget in Excel (2 Suitable Methods)**

**Calculate Monthly Expenses**

Now, weâ€™ll calculate the monthly expenses excluding the semester expenses.

- Here, I have added all possible monthly expense sectors like house rent, phone bill, internet bill, etc.

- After that, placed the sectorâ€™s amount and again used
**the SUM function**to find the total expenses in**C19**.

- Next, I applied conditional formatting to the amounts like the previous section.

- Itâ€™s the final outlook. Now itâ€™s looking pretty cool, right?

**Calculate Each Semesterâ€™s Expenses**

Each college has a different duration for a semester. It can be 4,5 or 6 months. However, first, weâ€™ll calculate the total cost of a semester here.

**Steps:**

- In a new sheet, I have placed the possible expense sectors of a semester.

- Later, applied the
**SUM**function to find the total semester cost in**Cell C8**.

- Again applied the same conditional formatting to the amounts.

The final outlook after applying the conditional formatting.

**Summary of College Budget**

In our last section, weâ€™ll now see the summary of our income and expense calculations. Let, the semester duration is 6 months.

**Steps:**

- As we have only one section of total income, so I placed it directly in
**Cell B5**by using the following formula-

`='Monthly Income'!C8`

- Then placed the monthly expenses in
**Cell D5**, using the formula given below-

`='Monthly Expenses'!C19`

now, weâ€™ll calculate each semesterâ€™s cost by dividing the total cost of a semester by semester duration.

- Insert the following formula in
**Cell D6**â€“

`='Semester Expenses'!C8/6`

- Finally, just used the
**SUM**function to get the total expenses including each semesterâ€™s cost.

- Lastly, to get the difference between the income expense, applied the manual formula as given below-

`=B5-D7`

**Read more: How to Prepare Annual Budget for a Company in Excel**

**Conclusion**

I hope the above procedures will be good enough to make a college budget in Excel. Feel free to ask any questions in the comment section and give me feedback. Visit ExcelDemy to explore more.